Income Tax
This query is : Open
20 September 2020
What will be the date of acquisition of the property for calculating the Capital Gain in the following situation?
Mr. Kumar purchased the property on 05.06.1986 & then he has transferred through settlement to his son Mr. Krishna on 05/11/2002 thereafter Mr. Krishna transfer the property by settlement deed on 18.03.2018 to his daughter Divya . Now the property has been sold by Divya on 18.11.2019.
Mr. Kumar purchased the property on 05.06.1986 & then he has transferred through settlement to his son Mr. Krishna on 05/11/2002 thereafter Mr. Krishna transfer the property by settlement deed on 18.03.2018 to his daughter Divya . Now the property has been sold by Divya on 18.11.2019.
20 September 2020
Consider it as 01/04/2001.
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21 September 2020
Thank you so much for your reply. Is there any case law available relevant to your answer, please provide the same
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